November 5, 2025 – Foshan Market Update

Asia-Pacific stock markets crashed today.
A股, however, surged as the lone green shoot.
Three major indices rebounded from lows.
They closed in the green.
3,380 stocks rose.
1,905 fell.
Total turnover: 1.872 trillion RMB.
Down 43.4 billion from yesterday.

LME nickel edged up slightly.
Shanghai nickel failed to turn green.
Stainless steel futures tried two rallies.
Both collapsed.
Day low: 12,505 yuan/ton.
Day high: 12,570 yuan/ton.
Closed at 12,535 yuan/ton.
Down 10 yuan.
Drop: 0.08%.

Futures lacked rebound strength.
Spot market tested early gains.
Later reversed.
Discounts returned.
Afternoon: Qingshan opened down 200 yuan.
Market panic followed.
Delong opened down 250 yuan.
Aligned with market at 12,400 base.
No splash.

Stainless steel tube manufacturers watched 304 lead the plunge.
201 had no choice.
It followed lower.

304 Cold-Rolled: Early Stability, Afternoon Bloodbath

Morning:
Qingshan agents held 12,500–12,700 base.
Traders raised 20–30 yuan.
Delong spot returned to 12,480–12,500.
Qingshan brands (Yongwang, Shangke): 12,580–12,600.
Futures hovered low.

Afternoon:
Qingshan mill cut 200 yuan.
Agents dropped 100 yuan.
New range: 12,400–12,600 base.
Delong spot: 12,400 base.
Futures shouted 12,350–12,380.
Qingshan resources: 12,480–12,500.
Yongwang: 12,400 base.
Market went silent.

304 Hot-Rolled: Double Dip

Morning:
Qingshan agents down 50 yuan.
To 12,250 base.
Market followed: down 20–50 yuan.

Afternoon:
Mill opened down 200 yuan.
Agents cut another 50 yuan.
To 12,200 base.
Market trailed lower again.
All day: falling, falling, falling.
Volume? Almost none.

201: Dragged into the Abyss

Hot-Rolled:
Qingshan J2 agents held discount.
At 6,900 base.
Some narrow strips down 20–30 yuan.
Afternoon: more cuts to secure orders.

Cold-Rolled:
Agents held firm at 7,150 base.
Traders mostly flat.
High-end down 20 yuan.
Morning: 7,050–7,100 base.
Some low at 7,030.
Afternoon: J5 hit 7,000 base.
J2 down 20 to 7,080 base.

430: Quiet, Weak, Ignored

Cold and hot-rolled prices held steady.
Morning: active selling.
Afternoon: dead quiet.
Demand evaporated.

Final Takeaway for Stainless Steel Tube Manufacturers

304 rebound? Killed.
201 back below 7,000? Done.
Futures failed.
Spot crashed.
Qingshan and Delong led the fall.
Volume dried up.
Market psychology: fear.

Stainless steel tube manufacturers must brace for volatility.
Inventory pressure mounts.
Downstream demand stalls.
Trade tensions loom larger than price swings.

VertexFlowtubes continues production.
We focus on quality.
We serve global clients.
We weather the storm.